By Admin 
If you want to study pharmacy but are worried about the fees of studies, then there is no need to panic anymore. In today’s time, you can realize your dreams through education loan. Whether it is B.Pharma or M. Pharma, you can complete your studies without financial burden by taking education loan.
What is education loan?
Education loan is a debt that students can take to meet their studies expenses. It also includes essential things like college fees, books, hostel expenses, laptops. Many banks and finance companies give this loan on easy terms.
Which students get a loan?
If you have taken admission in pharmacy course in a recognized institute, then you can apply for education loan. Some bank admissions even before admission-Approval is provided with loan facility. Usually, parents or parents have to make co-applicants.
How much loan can you get?
The amount of education loan depends on the fees and expenses of that course. For professional courses like pharmacy, banks give loans ranging from 4 lakh to 20 lakh rupees. This amount can be even more for studies abroad.
Loan repayment rules
The good thing is that you start repaying education loan only after completion of your studies. It is called ‘Moretorium period’, which usually range from + 6 months to 1 year. During this time you can only fill the interest or start the full payment later. Banks provide the facility to repay the loan in EMI (monthly installments). By paying timely installments, your credit score also becomes good, which makes it easier to take a home loan or car loan.
What will be the documents?
- Admission letter or college offer letter
- Marksheet of previous studies
- Evidence of identity and address
- Income proof (as per requirement)
- Passport Size Photo
Also read: CBSE’s mother tongue mantra- Now studying up to class 2 in Hindi and local language, know here
Education loan information:
Calculate Education Loan Emi